First Solar (FSLR) Stock Sinks As Market Gains: What You Should Know
First Solar (FSLR) closed at $165.89 in the latest trading session, marking a -0.94% move from the prior day. This change lagged the S&P 500's 1.29% gain on the day. Meanwhile, the Dow gained 0.78%, and the Nasdaq, a tech-heavy index, lost 4.94%.
Prior to today's trading, shares of the largest U.S. solar company had gained 5.21% over the past month. This has outpaced the Oils-Energy sector's loss of 0.08% and lagged the S&P 500's gain of 5.64% in that time.
Wall Street will be looking for positivity from First Solar as it approaches its next earnings report date. On that day, First Solar is projected to report earnings of -$0.18 per share, which would represent a year-over-year decline of 114.63%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $997.4 million, up 9.93% from the year-ago period.
Investors should also note any recent changes to analyst estimates for First Solar. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 10.91% higher. First Solar is holding a Zacks Rank of #1 (Strong Buy) right now.
Valuation is also important, so investors should note that First Solar has a Forward P/E ratio of 33.03 right now. Its industry sports an average Forward P/E of 33.03, so we one might conclude that First Solar is trading at a no noticeable deviation comparatively.
The Solar industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 52, putting it in the top 21% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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First Solar, Inc. (FSLR) : Free Stock Analysis Report
